All Forum Posts by: John Mason

Correct but this will be a STR in a prime market with pool and by beach so I am sure I can manage to break even

Congratulations @Jay Hinrichs!

It is amazing to read your posts and get the knowledge

No I only need the money to buy the STR.. I will pay him off using another business credit line I have..key was that I want to show that my down payment is not borrowed money hence this plan

So maybe  give 6 instead of 10?

You are right . I was wondering if giving not exactly 10 but something on the high side would attract someone to invest with me:)

https://www.padsplit.com/rooms-for-rent/los-angeles-ca

Good Morning all!!

Need advice from investors who have done 6 months buyout of loan partners

Scenario

Invest 50 k, loan partner invests 50 k , buy using DSCR in a LLC for STR

Agreement using attorney is, pay 60 k to loan partner after 6 months and then LLC has only one member which is me and I control that property

Anyone done this or a  variance of this?

Motivation is to overcome down payment hurdle for expensive houses for STR

https://www.biggerpockets.com/forums/530/topics/1165942-runn...

Maybe get a  job as a  runner , and that way you can climb up  

https://www.biggerpockets.com/forums/50/topics/742369-using-...